Assisted Living Information
Assisted living is an asset class known by many different names: assisted living homes, assisted living facilities as well as board and care homes. Though these facilities may be called by different names, as a whole, assisted living provides the same care. Choosing the right size facility is important in the assisted living investment process.
Within senior housing’s assisted living sector, there are two basic types of physical plants. First, the residential home facility which is a single-family home converted into an assisted living home or more commonly referred to as a board and care home. Second, the purpose-built assisted living facility is a structure that is built solely for use as an assisted living facility and is typically much larger in size.
Though staffing requirements change with the size and scope of the facility, the type of care provided remains uniform in all types of assisted living.
Differences between Residential Care Homes and Purpose-Built
In California, assisted living homes following the residential home model, house three to six residents at a time. In some states they may care for as many as 10 or 12 residents depending on the size of the residence. This model allows for a more intimate, homelike setting. Residents are able to interact with the same caregivers on a daily basis, allowing for a more personalized level of care.
Purpose-built assisted living facilities typically offer 20 beds or more, and can have up to a couple hundred residents living on campus. Larger facilities offer an energetic environment with a full social calendar. Because the physical plant is larger and there are more residents to care for, the type of attention each resident receives may not be as intimate as that offered in a residential home model. However, for residents who prefer plenty of things to do and people to meet, a purpose-built assisted living facility would be the best choice.
Operators Choosing to Buy Assisted Living
For operators, the distinction between residential care homes and purpose-built assisted living facilities is even more important. The two are entirely different, which allows for operators of varying skillsets to get involved in the senior housing industry.
Operators should look for residential care home assisted living facilities for sale if they are:
- Just starting in the business
- Want to provide personalized and thoughtful care
- Be fully involved in the details of operation
- Enjoy working with a smaller staff
Operators should look into purpose-built assisted living facilities for sale if they:
- Want a larger campus and resident population
- Are confident in managing staff members and delegating responsibilities
- Enjoy interacting with a larger number of residents
- Have strong communication skills
Every assisted living operator is required to have the proper licenses and insurances to operate the plant lawfully.
The JCH Group as Your Assisted Living Brokerage
Senior living property investments are available if you know where to look. The JCH Consulting Group is the preferred senior living brokerage. Our team of experts knows exactly how to get the best senior housing investment, keeping your goals and preferences in mind.
If you are searching for assisted living properties for sale or want to get involved in the senior housing business, contact one of our investments specialists for further information. Find out what a business is worth and why the choice to buy assisted living in our current senior housing industry is a good one.